Designation of Correspondents in Switzerland

Designation of correspondents of foreign companies in Switzerland

The approval process of correspondents is regulated by art. 4 ff. of the Internal Regulations (agreement between bureaux of insurance). Furthermore, annex II of the NBI & NGF’s Claims Regulations must be taken into account, specifying the conditions for a first-time approval of a correspondent in Switzerland.

The approval process serves to ensure a comprehensive and mutual exchange of information in international relations. It guarantees that approvals are granted consistently within the entire Green Card system. Moreover, the approval process allows to forward claims to the responsible correspondents without delay.

Process

The process is initiated by a request submitted to the bureau of insurance by a foreign member company. The request has to contain the exact designation and the address of the correspondent. Furthermore, the precise date when representation shall begin must be mentioned.

The request must additionally be supported by a written confirmation that the proposed correspondent accepts the requested approval.  

Request and confirmation are addressed to the NBI by the foreign bureau of insurance. The NBI shall grant or refuse the approval within three months.  

The NBI verifies whether the conditions for an approval are met:

  1. First of all, the NBI verifies whether the proposed correspondent has already signed the Swiss Interclaims Agreement. In conformity with this agreement, correspondents undertake to observe the NBI & NGF Claims Regulations.
     
  2. If the foreign insurance company has already been represented by another correspondent in Switzerland, the NBI is obliged to verify furthermore whether that correspondent has received full compensation for his services before granting the approval.
     
  3. Finally, the NBI verifies whether foreign companies operating in exercise of the freedom to provide services and the freedom of establishment in one or more EEA countries have already designated a single correspondent in Switzerland in order to represent both their activities at the headquarters as well as in their branch offices.

If all those conditions are met, the NBI grants the approval and communicates the effective date of the new representation (by returning the completed form). If the NBI does not reply within three months of receipt of the request, the approval shall be deemed granted implicitly.

Examples